Q32 Bio Inc. (NASDAQ:QTTB) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of Q32 Bio Inc. (NASDAQ:QTTB) have earned a consensus recommendation of “Moderate Buy” from the five analysts that are currently covering the stock, Marketbeat reports. Two investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1-year price objective among brokerages that have issued ratings on the stock in the last year is $13.50.

Several research analysts have weighed in on QTTB shares. HC Wainwright reiterated a “buy” rating and issued a $13.00 price target on shares of Q32 Bio in a research report on Tuesday, May 5th. Zacks Research downgraded shares of Q32 Bio from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 18th. Weiss Ratings upgraded shares of Q32 Bio from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, May 11th. Cantor Fitzgerald started coverage on shares of Q32 Bio in a research report on Monday, May 18th. They issued an “overweight” rating on the stock. Finally, Mizuho started coverage on shares of Q32 Bio in a research report on Friday, May 22nd. They issued an “outperform” rating and a $14.00 price target on the stock.

Q32 Bio Price Performance

QTTB stock opened at $12.86 on Tuesday. Q32 Bio has a 1 year low of $1.35 and a 1 year high of $14.85. The company has a market cap of $218.11 million, a P/E ratio of 4.83 and a beta of 0.26. The firm has a 50-day moving average of $7.65 and a 200 day moving average of $5.46. The company has a debt-to-equity ratio of 0.04, a current ratio of 5.36 and a quick ratio of 5.36.

Q32 Bio (NASDAQ:QTTB) last released its quarterly earnings results on Tuesday, May 5th. The company reported ($0.54) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.68) by $0.14. On average, sell-side analysts forecast that Q32 Bio will post -1.96 EPS for the current year.

Insiders Place Their Bets

In other Q32 Bio news, Director Orbimed Advisors Llc acquired 1,875,000 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was acquired at an average cost of $8.00 per share, with a total value of $15,000,000.00. Following the purchase, the director directly owned 3,502,987 shares of the company’s stock, valued at approximately $28,023,896. This represents a 115.17% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Diyong Xu acquired 1,875,000 shares of the company’s stock in a transaction on Thursday, May 28th. The stock was acquired at an average cost of $8.00 per share, with a total value of $15,000,000.00. Following the completion of the purchase, the director directly owned 3,502,987 shares in the company, valued at approximately $28,023,896. This represents a 115.17% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Company insiders own 34.46% of the company’s stock.

Hedge Funds Weigh In On Q32 Bio

Large investors have recently made changes to their positions in the company. Marshall Wace LLP purchased a new position in shares of Q32 Bio during the 2nd quarter worth about $25,000. Acadian Asset Management LLC purchased a new stake in Q32 Bio in the 1st quarter valued at about $50,000. Two Sigma Investments LP purchased a new stake in Q32 Bio in the 3rd quarter valued at about $62,000. ADAR1 Capital Management LLC purchased a new stake in Q32 Bio in the 4th quarter valued at about $66,000. Finally, AQR Capital Management LLC purchased a new stake in Q32 Bio in the 1st quarter valued at about $68,000. 31.32% of the stock is owned by hedge funds and other institutional investors.

Q32 Bio Company Profile

Q32 Bio Inc, a clinical-stage biotechnology company, develops biologic therapeutics to restore healthy immune balance in patients with autoimmune and inflammatory diseases driven by pathological immune dysfunction in the United States. Its lead product candidate is ADX-097, a humanized anti-C3d monoclonal antibody fusion protein to restore complement regulation, which has completed Phase I clinical trial for the treatment of renal and other complement-mediated diseases of high unmet need, including lupus nephritis, immunoglobulin A nephropathy, complement component 3 glomerulopathy, and anti-neutrophil cytoplasmic antibody-associated vasculitis.